RAMSEY CROOKALL

26th  August

Afternoon Report

The FTSE 100 is down remaining on the soft side, on caution ahead of Fed chairman Bernanke's speech at the Jackson Hole.  The latest UK 2Q GDP revision has come in unchanged from 0.2%, with no impact on the market, with the focus now turning to the US GDP figures ahead of Bernanke’s speech.   Car insurer Admiral is a high risers, recovering after its recent decline 3 day decline, it hits 1 year low yesterday at £12.79. The stock has also benefitted from a positive broker update from Deutsche bank upgrading the stock from hold to Buy. However, Insurance group Resolution Ltd  has fallen 1.4% after the same Broker, Deutsche Bank ,cut its rating on the stock to hold from . Both re-rating have come about as part of  the bank’s insurance sector rating revamp.

Mining giant Rio Tinto fell lower despite the independent directors of Australian Stock Exchange-listed miner Coal & Allied having given the green light to plans by Rio and Japanese trading house Mitsubishi Corporation to take full ownership of the company.

Specialty chemicals producer Yule Catto rose higher after it posted sharp rise in half year pre-tax profit helped by strong demand from Asia and its PolymerLatex acquisition.

Eastern Europe-focused oil producer Exillon Energy was out of favour despite moving into the black in the first half of 2011, as production hit record levels for the company.

THE FTSE 100 at  12:00                      Down        25           @       5108

THE DOW JONES closed                        Down        170           @       11149                       NASDAQ COM closed                           Down        48            @       2419                           Commodities

Spot Gold $/Oz           $1786 Brent Crude Oil          $110.32 September Delivery     Exchange Rates

GBP – USD           1.6306 GBP - EURO         1.1296